EVERETT, MASS. — South Carolina-based developer Greystar has begun leasing Mason, a 330-unit apartment community located in the northeastern Boston suburb of Everett. Designed by CBT Architects, the property offers studio, one- and two-bedroom units with stainless steel appliances and quartz countertops. Amenities include a pool, fitness center, outdoor grilling and dining stations and a dog park. According to the property website, rents start at $2,200 per month for a studio apartment.
COLORADO SPRINGS, COLO. — A joint venture between Formativ and Argosy Real Estate Partners has secured construction financing for The Hunter, a 214-unit multifamily development in Colorado Springs’ New South End neighborhood. The Hunter will offer studio, one- and two-bedroom floor plans. Amenities include a two-story tenant lounge, golf simulator, pool, fitness center, co-working space, bike storage, dog wash station and a parking garage. The seven-story building is scheduled for completion in late 2024. Rob Bova of JLL Capital Markets led the team that arranged the loan.
ANAHEIM, CALIF. — CBRE has arranged the $5.9 million sale of a 14-unit multifamily townhome community in Anaheim. An unnamed buyer acquired the asset for $5.9 million. This transaction sets a new benchmark for the city of Anaheim, with a price per unit of $421,000, according to CBRE. The community is located at 129 S. Olive St. in downtown Anaheim. Built in 1986, the property spans about 15,517 square feet and features two-bedroom/two-bathroom, townhome-style floor plans with vaulted ceilings, central air, patios and balconies. The community was recently renovated with fresh paint and exterior wood replacement. CBRE’s Dan Blackwell represented both the buyer and seller in this transaction.
CHARLOTTE, N.C. — Atlanta-based mixed-use developer Third & Urban has obtained $64.5 million in construction financing for Residences at The Pass, a 335-unit multifamily development located in Charlotte’s NoDa district. CrossHarbor Capital Partners provided the financing. The property will feature a mix of studios, one- and two-bedroom apartments anchored around a resident club room, work lounge and café that Pixel Design Collaborative designed. Residences at The Pass will also feature a rooftop terrace overlooking the courtyard and pool deck and will offer direct access to the Cross Charlotte Trail. First residents are expected to move in by summer 2025. The community will be the multifamily component of The Pass, a mixed-use development that will also feature 260,000 square feet of office and retail space. The project’s first phase, dubbed Pass41, is under construction and will span 80,000 square feet of commercial space with its first round of tenants opening this fall, including Soul Gastrolounge. The design-build team for The Pass includes architect Niles Bolton, civil engineer Thomas & Hutton and general contractor NRP Group. Foundry Commercial handles office leasing at The Pass, and Thrift Commercial Real Estate handles retail leasing. Blueprint Local serves as Third & Urban’s primary capital partner …
TALLAHASSEE, FLA. — 908 Group and BCDC have formed a joint venture to develop a 693-bed student housing community adjacent to Florida State University (FSU) in Tallahassee. The unnamed, 182-unit property is the third development between the two firms and the fourth Tallahassee project for 908 Group. Pacific Life Insurance Co. is the primary lender for the project, with preferred equity provided by Nationwide. The project team includes general contractor Culpepper Construction Co., architectural firm Humphreys & Partners Architects and civil engineer Moore Bass Consulting. First move-ins are expected in August 2025 in time for the start of FSU’s 2025-2026 school year.
MIAMI — General contractor ANF Group has begun construction on Southpointe Vista, a two-phase affordable housing development in Miami that will total 332 units. McDowell Housing Partners is the developer of the two 10-story residential towers, which will be connected by a central paseo. Located at 21255 117th Court in the city’s Goulds neighborhood, the towers will feature studio, one- and two-bedroom residences reserved for households earning up to 70 percent of the area median income. Amenities will include community rooms, laundry facilities, a cybercafé, fitness room and onsite management offices, as well as two two-story parking garages. This project was partly funded through Miami-Dade County’s Public Housing and Community Development Department with $2.5 million in surtax funds. Southpointe Vista’s first tower is scheduled for completion in fourth-quarter 2024.
NEW YORK CITY — BLDG Management Co. has received $425 million in construction financing for The Orchard, a multifamily project located in the Long Island City neighborhood of Queens. The 69-story development will be the tallest residential tower in Long Island City, according to Greystone, which arranged the financing. Plans for the development include 824 residential units, including a penthouse with a rooftop deck; 207 parking spaces; and 13,000 square feet of above-grade retail. The development’s 100,000 square feet of amenity space will include a fitness center; indoor and outdoor swimming pools; a spa with a steam room and sauna; basketball court; multi-sport simulator; lounge areas; a children’s playroom; game room; movie screening rooms; work pods; a dog spa; bike room; package room with refrigerated storage; on-site laundry; and self-storage space. The Orchard will also feature a landscaped rooftop deck offering panoramic views of the New York City skyline. The space will include a pickleball court, barbecue area, yoga and fitness space, a lawn for movie screenings and a running track. A timeline for the project was not announced. M&T Bank acted as administrative agent for the $425 million construction financing, with U.S. Bank and the Bank of China acting …
MIAMI — LORE Development Group, a newly formed development firm between Leste Group and Brazilian-based Opportunity Fundo de Investimento Imobiliário, has announced plans to develop a $500 million multifamily development in Miami’s Brickell district. Situated near Brickell City Centre, the 442,000-square-foot, unnamed property will be located at 1015 SW 1st Ave. and feature high-end amenities and 2,000 square feet of ground-floor retail space. The construction timeline and design-build team were not disclosed. LORE will source and acquire properties and work with third-party construction teams to build its projects. In South Florida, LORE plans to develop more than $1 billion in multifamily assets over the next five years.
FORT WORTH, TEXAS — SWBC will develop The Royalton at Sienna Hills, a 293-unit apartment community that will be located on the west side of Fort Worth. Units will come in one-, two- and three-bedroom formats and will be furnished with stainless steel appliances and quartz countertops. Amenities will include a pool, fitness center, conference room and outdoor grilling and dining areas. Cross Architects is designing the project, and Jordan Foster is serving as the general contractor. Construction is expected to last about 24 months.
DALLAS — Avison Young has brokered the $20 million sale of a multifamily development site located at 3515 Brown St. in Uptown Dallas. The 1.6-acre site currently houses a 26-unit condominium complex. Mike Kennedy and Paul Harmon of Avison Young represented the seller, the Wimbledon Place Homeowners Association, in the transaction. The buyer, Chicago-based developer Fifield Cos., plans to demolish the existing building and construct a 24-story apartment tower on the site. A construction timeline was not disclosed.
